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Chapter 12 ■ Financial Statement Versions (FSV)
Update the following fields by entering the G/L account range you want to assign to your FSV node.
You also must specify whether your G/L accounts are debit or credit:
From Acct: Enter the starting G/L account number range of the G/L account you
want to enter. In this exercise, we used 111410.
To Account: Enter the ending G/L account number range in this field. In this
exercise, we used 111431.
■■Note
the benefits of using a number range is that when you have multiple G/L account numbers, you only
need to enter the start and end G/L accounts, and the system will assign the entire range.
D: Stands for debit. When this field is activated or selected, the system will
include all the debit G/L accounts in your bank account in the FSV. Select
this checkbox.
C: Stands for credit. When this field is activated or selected, the system will
include all the credit G/L accounts in your bank account in the FSV. Select
this checkbox.
Then click the Enter button or press Enter on your keyboard. This action will then assign your chart
of accounts and G/L account number range to your FSV and indicate if the assigned G/L accounts are debit
and/or credit by marking an X.
Notice that the range of G/L accounts that you have assigned will appear under the Barclays Bank
Account node in the FSV Hierarchy structure (Figure 12-12).
Figure 12-12. How the G/L accounts assigned to an item are displayed in FSV
Step 4: Define the Credit/Debit Shift
When your bank has a debit balance, it is considered an asset. This means that you have surplus cash in your
bank account. On the other hand, if your bank has a credit balance, it is considered a liability. This means
that you owe the bank, and it is referred to as overdraft (short-term borrowing). Cash balance surplus and
deficits are disclosed separately in financial statements under different headings. For example, a debit bank
balance is treated as an asset and a credit bank balance is treated as an overdraft under liability. So that
the system can identify these transactions and disclose them separately in the financial statement (to meet
accounting disclosure requirements), you have to specify these settings in your FSV.
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